ENTP 3301 Lecture Notes - Lecture 12: Entp, Ethical Movement, C Corporation
9 Sep 2016
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Document Summary
Preparing the proper ethical and legal foundation; intellectual property. Lead by example: most important thing that any entrepreneur, or team of entrepreneurs, can do to build a strong ethical culture in their organization is to lead by example, exm. Implement an ethics training program: ethical dilemma. Potential payoffs for establishing a strong ethical culture. Select an attorney early: important for an entrepreneur to select an attorney as early as possible, pick one who is familiar with start-up issues. Property created because you thought of it: for issues dealing with intellectual property, it is essential to use an attorney who specializes in this field. Founders" agreement: written document that deals with issues such as the relative split of the equity, put a lot of things in founders" agreements. Steps: meet all contractual obligations, avoid undercapitalization, get everything in writing, set standards. Business license: needs to operate, need if functioning in founder"s home, has employees or is a corporation.
